 This is why we always talk about the markets not a bull, the markets not a bear. The market right now is just resting and that's there's no better example of a market resting. Welcome to Access a Trader, the number one community for those who are committed to taking control of their trading in order to achieve success, profitability, and longevity. Thank you for joining us. This is Dan Shapiro to help you find your edge, master your process, and own your future. Hey guys, good evening everybody. Welcome to another edition of the AccessaTrader.com nightly wrap up show. Hope everybody is doing well. Hope everybody had a good trading day and hopefully everybody's happy and healthy and all that good stuff. Blessings to all. So, we talked about last night, you know, market look tired. So it was market look very, very tired. If you look at the scoreboard today, you're not really going to get a lot of, you know, a lot of clarity from the school board. But there's been, you know, there's been a lot of weakness we talked about yesterday. The meme stocks breaking down. I'm trying to trying to be as gentle as possible, because I get it. There's so many retail investors that have this the wagon hitch to these game stocks of the world and, you know, the AMCs of the world. So I'm trying to be as thoughtful and gentle as possible. But guys, just remember, you know, the charts are there for everybody. You know, we always talk about this on every video. You know, you don't need to guess, you know, price action is price action. If you believe a stock is worth X and the stock is Y, there's probably a really good chance that the stock is Y because reality is reality. And a lot of times we look at the reality that we want instead of the reality you have. Not only these names, you're getting a lot of names that had really big runs. The growth stories out there, you continue to see weakness in the Russell. Again, we talked to this a couple of weeks ago that just wasn't participating. And now you have literally one day away from the Russell really breaking down this range. If you look at the last several times, it's got to this range. It helped, right? It held here. It held here. So you're talking about one day away. And if the Russell starts losing, you know, this 218 level, you have lower prices. And again, you can say what you want, feel a certain type of way. The market's going to do what the market's going to do. We say this every single day. It's your job to anticipate to be prepared, do your homework, do your research and don't get caught off guard. Again, a stock that's worth X in your mind is trading at Y. There's a reason why it's trading for Y. There's usually either more sellers and buyers. Why the stock is going lower? And there's more buyers and sellers that stock is going high. These are obvious facts, but most traders and most investors that are brand new to this business, they just don't get this concept. So they're so emotionally in these game stops and AMCs of the world that they don't see that there's technical levels ready to get violated. And, you know, you saw that yesterday, they both confirmed today. And then you got a really, really ugly move to the downside. But it's just not only the AMCs and the game stops of the world or the Russell names. You're getting a lot of names that yesterday we covered on the video. You know, they're starting to get hit and they're getting hit pretty aggressively. We covered Roku yesterday, started breaking down. We talked about Zoom last night. It just got destroyed. I mean, just absolutely destroyed. That went down. We talked about Splunk. I traded some Splunk today as well. That got hit as well. Peloton got down great. There's a lot of violence today, but here's the good news, right? And this is kind of where we separate the word labels. And this is what we talked about yesterday, that I don't like the word labels. The markets bull, the markets bear. We talked about this last night as much as many of the polls that we saw today. And we saw some, you know, pretty damn aggressive rug polls saying a lot of names. And we'll get to the individual pivots in a second. But here's kind of what we see. And this is why the market is still very, very strong. OK, you know, since we've seen a lot of weakness and stocks still tired, keep this in mind, for the exception of the Russell, the NASDAQ 100 that's represented by the QQQs, at least in my world. It's still putting in one, two, three, four, five days in a row of higher lows and respecting the five-day moving average. That's very, very bullish, right? You can have a lot of names that are starting to break down. And, you know, we'll talk about some charts that I like for tomorrow on the downside. But you're still getting a lot of stocks that are behaving incredibly well, the Amazons of the world, right? Even though it was down today and all that good stuff, it's still acting very, very well. Apple continues to act really, really well. Netflix today broke out. And again, there was a big, big pivot today in Netflix. Unfortunately for myself, it was just too illiquid. And I'm really disgusted. Talk about a name that needs a split. I couldn't find any liquidity today off the pivot. And I just watched this thing go up literally from 45 to, you know, basically. I watched it go up $9 a day in no liquidity. I was kind of disgusted about it. But again, you can only get what you can get. But the point is there's still a lot of really strong names. The NASDAQ 100 continues to put in higher lows. So the label that the market is weak is a little bit premature. The label that the market continues to be strong is a little kind of premature. I think what this is exactly what we talked about yesterday. It's a state of rest after a really good run from May 20th. And again, just like we talked about yesterday, you have to be, you know, you have to have an open mind. You have to have an open mind. You have to have the ability to say, look, I want to trade both sides of the market. I understand there's a lot of strength still in this tape. But hey, I definitely see the opportunities to the downside. There's a lot more setups today for tomorrow's session to the downside than there is to the upside. And the most important part is, again, appreciate price action. So if you believe that AMC is worth $2,000 a share, please give me those same pills that you're on. But all jokes aside, again, maybe the selling pressure or maybe the macro area where the stock is trading is not corresponding to your thesis. And the one question when you're in a broken chart or a broken fundamental chart or whatever the case may be. And again, I'm just using AMC as an example. But the point is the question is what happens first? Are you going to be right or are you going to be solid? That's a very, very important question when you're holding on to position, especially when a position is on the water. So if you're an investor, it could be anything. It could be AMC, it could be dog shit, whatever it's called, Facebook, Tesla, Amazon, whatever the continuation of your thesis is, always ask yourself a question. Is this the most prudent way that I should proceed with my portfolio? Is this the best place that my money is going to be safe and it's going to grow? And is this the best place that I'm concentrating on my energy, right? All my mental energy, all my mental equity. And if the answer is no, you have to think about it twice, it's probably not the right place for you. And subconsciously, you have to make that, you really have to make that self analysis that you know what, I'm just holding on to dear life. There's better places in the world. My money is safe in other places and it's time to re-invaluate, cut my losses and kind of move on to the next thing. Again, everybody's an adult. Everybody has the right to hold on to anything, to trade anything. Again, you don't need to explain to anybody or warrant a conversation. You're all adults, you're a dime, you're a dance floor, you worked hard for your money. But again, there's a time and a place of self-preservation and self-reflection type of area when you're home by yourself, you've got to look yourself in the mirror and say, hey, am I doing everything possible to make my financial house still in order? And that's a very, very fair question. So let's talk about the technicals for tomorrow. Again, the key to the level on the Qs is watch the five day, okay? Again, as much as these stocks are holding up the Amazons, the Apples of the World, right? They're holding on very well. And I'll show you a whole bunch of stocks that did not hold up today. There's a really, really aggressive red pull. But the key to the Qs is that they need to hold this 361 level. They start losing the 361 level. Not only is everything else that's already started breaking down, but you have the leaders come down as well and you have a really, really bigger macro sell-off on the scoreboard. If you look at the IWM, pretty clean, right? Again, if you're a most basic chartist in the world, you can see it held support here in this 317, excuse me, 278.5 level. Tesla was 2, 218.55. Any close below this 218 level, you have a lot of room down. So you have $5 of potential, your first measure potential in IWM. If you look at the spies, you're not going to get anything out of it, right? You're not going to get anything that's going to move the needle. And Mark is strong, right? That's the market. 500 greatest companies in the world are in this S&P 500. They're not going to get anything out of a technical view from the S&P. And this is why we always talk about the market's not a bull, the market's not a bear. The market right now is just resting. And there's no better example of a market resting than S&P 500. So again, stick to individual stocks. And most important, again, look for value in your thesis. So going into tomorrow, I'm 80, 20 sell buys. Again, it doesn't mean I can't change my mind in a second and start looking at upside channels. There's actually some decent channels, right? There's actually some pretty decent channels in the upside that I do like. I don't like a lot of them, but I do like some. I still like this checkpoint, a really good flag. I'm still watching this thing and never sold off, put three days in a row of higher lows, right? If it starts validating this area here, you got $3 to $4 worth of upside. Netflix still continues to look good, right? It continues to look pretty good. I'm going to keep an eye on this thing for tomorrow for rising support kind of buy. I think it's the only way I could trade it. Again, if you're getting the same liquidity on strength, there's the same liquidity on weakness. I might as well take it weakness on the bottom of the range, then strength, there were a stock and fail. So I'll see, I'll watch them. I think the value there is definitely the bottom of the range if that could be possible. Now, if you look at the downside for tomorrow, you got a lot of wood, right? You definitely got a lot of wood to potentially chop AMC, got murdered. Again, first close over the 50-day moving average. They were coming today for the 33, for the 30s, for the 25 short-term puts on this thing. This thing starts taking down this 33 levels, trading like 3280s after the close. This thing starts trading down below this 33 level and starts pulling a new home. You got a move coming here to this 29 area. So there's some room here to go. You got GameStop, first close. Again, we talked about this yesterday. First, it held up the same level three times. It broke this level, closed at the lows, basically trading at the low of the day now, 165. This thing has room to 151, 142. If this thing starts to confirm down, look at names like Beyond. Great call by Will today in the webinar. I mean, first close below the 50-day moving average. This thing starts confirming today's channel. Look which room you have, right? You have another $5, $6 in the trade. Look at CoinStop, right? If all the money is being sucked out of speculation and Bitcoin is just sitting there and Dolkshit is just sitting there and AMC and all these other crypto dynamites are sitting there doing nothing, well, that means there's no activity, there's no volume, there's no participation. This thing starts confirming channel. Look which room you have, 215, 210, you have a lot of room down. So the meat of the bone for tomorrow is on the sell side. Obviously, anything can happen. Again, I'm not naive to think that we're not a bit more, we're in a bull market that's just resting, but at any given time that bull market could switch, switch sentiment very, very clearly, and instead of going selective names that are just kind of whittling down and whittling down and starting to get hit, you might get a macro pull as well. So we definitely want to watch for leadership tomorrow. If they start pulling harder, the Amazon's in the world, the video's in the world, especially Apple. You know, Apple has been the creme de la creme, it's been the leader, it's been the workhorse. So if Apple gasses out, well, what do you think is going to happen to the rest of the market? It's very important to watch that as well. So let's talk about the pivots today, a very aggressive session today, and again, we talked about on the video yesterday, you have to be open to trading everything. That's the key. Upside, downside, we might see a contracting channel today if possible, so prepare to be prepared to curb your activity level. Again, that's the one thing that we always want to make sure that channels are expanding. You can't anticipate a day that the market's going to expand, but you can prepare for it. But be open-minded on both sides. Waiting today for clear confirmation is important. Understanding what you're up against before the day is ring. Obviously both sides and the sides, we started to really put in really aggressively through the downside, and you got some major, major washes today. Congratulations. I know a lot of you guys did incredibly well. I know a lot of you guys are still long, puts either AMC or GME in both. Some runners, so good job there. So let's talk about it. Peloton downgraded this morning, held 116 three times if it builds below, can flush more. Here was Peloton on that downgrade, P-T-O-N, there you go. So P-T-O-N, here was the 16, right? They held the 16 three times, right? They held it three times, and fourth time was a charm. They took down the stock pretty aggressively, so Peloton got hit. Zoom got really flushed today, really, really aggressively flushed, 375, 374. If it builds below, it can flush. That was an understatement. Zoom got taken apart, right? We talked about Zoom's bottom channel. Not only yesterday, we talked about it on the weekend update, and finally took down this whole area, went right down to support, put a $15 swan dive, GameStop, I put in the wrong price on the email, I put in my accent, I think it was $199, it was $177, I don't know, I think the dyslexia kicked in, but $177, $176 macro support if it builds below can flush. GameStop got killed. GameStop got hit, it took down this whole $177, $176 level, traded down to $165, starts confirming $165 tomorrow. You got another eight, nine points in the trade as well. Splunk, not a huge move, but 3450, 134, if it builds below, it can flush. I only thought I could give a couple of points, that's exactly what it did. Here is Splunk, right? We talked about it last night, went right to the next support zone at 132. Splunk, Splunk, Splunk, Splunk, Checkpoint. I still like Checkpoint. Netflix, again, this was the biggest move on Netflix, and it's not that I missed the trade, it's not that I missed Netflix, it just wasn't enough liquidity from eight, which sucks ass, because I really need this thing to split, it started getting some more liquidity in this thing. For me, it's just impossible to get liquidity. 45, 45, 55, 46 needs to build. Netflix went absolutely nuts, considering how weak everything was. You took out the 45, 46, put up a $9 candle. I know a lot of you guys got it. Unfortunately, I just made the decision not to trade it. FISV, 1075, 11 needs to build. I wasn't watching FISV, so if you got it, I don't even know what the hell the thing did. No, it didn't confirm anyway, so FISV did nothing. Morning research, Tesla, 65. Here's the weird part of it about Tesla. I lost a dollar on Tesla this morning off the 75, it went up like a dollar, so it came right back in, and then I make a dollar and change later. It just wasn't ready, and now it's starting to violate bottom channels. Before I call Netflix, excuse me, a Tesla, a short. I still want to collect a little bit of data. I don't want to get caught prematurely because it's still coming in for higher, really out of the money, call buying in the name. So before I make a stance, I want to get a little bit more data on the stock as well for the next couple of days, and then we'll have a clear picture on Tesla. So again, Peloton take on the way down, Netflix take on the way up. Roku got absolutely destroyed. 424 support, if it builds below, can flush. Here was Roku, all right, it took down to 24 and went all the way down to 411. It's coming up on a macro level here very, very soon for more ugliness there. And I say on Netflix, keep taking 553, 555 potential, that's exactly where it went to. Zoom, new lows, take on the way down to Roku, new lows on GameStop, Splunk on Deck. Again, monster pulls. I mean, really, really monster pulls, continue managing your runners, Roku 15 on Deck, they're closing on lows, and yeah, that's it. I mean, that's it. So a really good session. I know a lot of you guys did really well. Some good value. I think there's a lot of really good value on tap for tomorrow as well to the downside. But again, let's watch the channels open up, let's see how aggressive confirmation will be. And with God's help, I'll see you all there, take care.